Carbon Market Watch Newsletter – January 2018

Editorial

Happy 2018, a pivotal year for stepping up climate action

The World Economic Forum’s latest Global Risk Report places climate change as the number one threat facing the world in 2018 – a hot topic at this year’s meeting of world leaders in Davos. Our message to the crowds gathered in the Alpine town: put a high enough price on carbon to help avoid climate crisis.

The 36 member countries of the Council of the UN aviation body ICAO will adopt rules for the aviation’s future offsetting scheme (CORSIA) this summer. To achieve as good a result as possible, offset eligibility criteria must be made mandatory and both ICAO and its member states should welcome input from all interested parties, including their civil society.

The new year marks the beginning of Canada’s nation-wide carbon pricing policy.While moving in the right direction, the scheme will need improvements to guarantee that it delivers on the country’s climate targets. The launch of the Chinese emissions trading system, the largest in the world, took us one step closer to global carbon pricing. Transparency and public participation will be key to making the scheme a success in the coming years.